Pmla Law
Money Laundering
The process of concealing the illegal origin of money obtained through crime, by passing it through legitimate financial transactions to make it appear lawfully earned.
Money laundering is prosecuted under the Prevention of Money Laundering Act, which specifically targets the process of "laundering" proceeds of certain scheduled criminal offences (called "predicate offences"), with enforcement carried out by the Enforcement Directorate.
The law also allows attachment and eventual confiscation of property found to be proceeds of crime, even before the underlying criminal case is finally decided.
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